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Housing crisis to end in this year

One of the reason the end is in sight is due to the loosening credit requirements.

The average credit score required to attain a mortgage loan is 700. While this is higher than scores required prior to the crisis, it is constant with requirements one year ago.

However, other market indicators point not just to a stabilzation of mortgage lending standards, but also a loosening of credit availability.

Banks are now lending amounts up to 3.5 times borrowers earnings. This is up from a low during the crisis of 3.2 times borrowers earnings.

Banks are also loosening loan-to-value ratios from 74% in 2010 to 82% LTV now.

Now is the time to buy with interest rates at an all time low.

Check out these areas Kailua, Kaneohe, Hawaii Kai, Waialua, Kapolei, Makakilo, Waimanalo


Posted on: Saturday the 28th of January 2012.
Total views: 100
Written by: Kim Weidie RA